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Most automotive discount opportunities in Vietnam

The Standing Committee of the National Assembly said that the SCT should reduce not too deep for vehicles under 2 liter so affecting domestic auto production background.In late October, 2015, the Ministry of industry and commerce have proposed changing the tax rate of special consumption tax (TTĐB), under which taxed real high into the line of vehicles with large cylinder capacity, from 2 liters or more, while the small car line under 2 liter needed tax relief to stimulate consumption. However recently the Commission of the National Assembly in acquisition award report about the amendment of some articles of the law on special consumption tax, tax management and value added tax, said disagreed with this proposal. Many suggested that if tax breaks are too deep for the lineup of engines under 2 liter will cause great difficulties for the domestic business and increased incentives for car imports.

To stimulate market development of the line compact size under 2 liters, use less fuel, while still ensuring developing automotive assembly industry in the country, the Commission launched the latest tax rates in every draft timeline as follows, starting from 1/7 to : Under the new draft, the car tax rates on 2 liters of still increase as general purpose is limited. But the car under 2 liters, insignificant reduction levels, of which the biggest incentive for the car from 1.5 litres and under also only from 45% to 35% of current at the beginning of 2018. Compared with the proposed feedback/10-2015 from 45% of the about 20-25%, then this discount level is too little.

If the taxes, other charges struck the car, the price of the car under 2 liters will reduce but almost the only form. Random calculations on a number of specific car line such as the following:

Each discount only about 20-30 million, i.e. only the equivalent of a monthly promotions by car dealers. Review the other model K3 in the table above, the discount rate is 23 million. While the current practice, the other distributor Thaco is there are always promotions for this car line, as up to 30 million. Customers do not realize there are differences worth considering when the tax reduction at least.

The sales professionals in the industry for long years said, if reduced levels only around this will hardly stimulate demand for the small car market. Because, if the computer is a percentage of the total price, this figure is too low. A specialist for example when customers buy Altis price 848 million can only have 600 million, 248 million bank loan. When there are new taxes, price is 819 million, the money dropped to 219 million. Interest rates and root for the Bank each month between 248 and 219 million almost no difference.

"There is no change in the price of dishes out plates tax breaks like this just like scratching itchy, difficult to change the market", the experts stressed.

The continuous changes in the proposal, the draft of the management agency makes car market Vietnam stood before the risk of disorder. The import car business puzzled when the PIN is not possible the exact number to quote to the customer.

Recently at the launch of the Range Rover Evoque 2016, UK Auto importers do not announce the official selling price. When asked, airline representatives said they did not know how much is reasonable, then, to, when regulations on tax rates for the SCT has effect from 1/1 but Sets no guidelines for calculating the import car business unit.

"We as the butt wiggle more when the new tax rates will be forthcoming, how to calculate selling price with the client and not the hole is difficult problem at the moment", the Director said.

Meanwhile, even the car maker assembles also move to change yet though there are provisions fell and sure stability at the moment. After all, the customer is still the people who "just know" wait, buy the car at a cheaper price, supply and demand market is the small part remaining dependent largely on the intention of the governing body.

Proposed new tax - the opportunity to buy small cars for Vietnam

If the proposed new tariff is applicable, the price of a small car under 2-liter engine will be reduced by about 14% while the 2-liter cars soared upwards.

Government proposals to double excise tax for luxury cars

In early 2015, the Ministry of Industry and Trade have been put forward proposals to change the tax rate of special consumption tax (SCT), in which very high taxes on cars with large capacity cylinder, 2 liter or more, while small cars under 2 liters needed tax relief to stimulate consumer demand.de-xuat-rent-SST-moi-co-hoi-buy-car-for-nguoi-viet

According to the new tax treatment, models with a capacity of under 2-liter cylinders will reduce taxes, thereby reducing prices, stimulating buyers. These engines are usually mounted on the popular cars from small to medium size.

By contrast, vehicles with cylinder capacity of 2 liters or more tax increases, the higher the volume the greater the tax rate, thereby increasing prices, limiting consumer. Ordinary-sized car or luxury car, luxury, sports car is the car or the engine mount.

Suppose a car is imported, sold basic prices are calculated according to the following formula: A x (1 +% NK) x (1 +% SCT) x (1 +% VAT) x (1 +% Other costs). Where A is the capital,% shall be understood as import tax rate (NK), excise (excise) and value-added (VAT). Other expenses include the fees and costs to close the ad, its sales .... The calculation is similar to the domestic car assembly.

Assuming the taxes, fees and other costs unchanged, car prices depend only on the SCT, the price changes after the new tax proposals will be prorated: (1 +% new excise) / (1 +% excise old). Based on this calculation, the change in the price of a typical vehicle in each segment are as follows:

The vehicle in the popular segment from a size A as Morning, Grand i10 to size C as K3, Altis are impairment. Currently the car in this range usually cost around 800 million back, is consistent with the financial capacity to buy large numbers of customers want cars. However, the same model will also change, if the Altis, version 2-liter motor will rise because tax increases while the price dropped 1.8 liters as the table above.

Government proposals to double excise tax for luxury cars

Excise tax rates for vehicles over 3,000 cm3 from the current level of 60% is expected to increase 110-150%, while reducing taxes for ordinary vehicles.

After a period of consultation from the ministries, agencies and enterprises, the Government has officially submitted to the National Assembly passed the amendments on excise tax for motor cars of less than 9 seats. The report of the Government said that the adjustment of the tax rate on the principle of dividing into smaller groups, down to the ordinary vehicle development priorities but strong with large capacity motorcycles (from 3000 cm3 and above). Specifically, the cars below 2,000 cm3 was reduced from 45% tax rate as the current 20-25% down. In contrast, from 2,000 vehicles to 3,000 cm3 cm3 tax increase from 50% to 60%. The 3.000cm3 or more cars from the largest increase, from 60% to 150%.

According to the Government's explanation that the reason these vehicles are subject to special consumption tax rate is high because these are large-sized cars, more energy consumption, not suitable for people's income.

Earlier, Vietnam and the 11 founding countries have just completed negotiations Agreement Trans-Pacific Partnership (TPP) which has relevant content or even reduce import duties altogether. Import duties on cars to 70% currently. Thus, in case of import tax to 0% reduction commitments when joining the TPP, special consumption tax, some cars increased from 60% to 130-150%, experts believe that the price imported cars harder still cheaper.

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